Driving home the good news
Helping a newly-listed business to communicate effectively with the City, customers and employees was the challenge facing Julie Gaskell when she became Head of Communications at leading logistics company Stobart Group in January 2008. With half a dozen acquisitions during 2008 - including the purchase of Southend Airport - the company is definitely travelling in the fast lane. 'Talent Matters' spoke to Julie about the exciting ride so far.
Red and green Eddie Stobart trucks are a very familiar sight on Britain's motorways, and the much-loved vehicles even have their own Truck Spotters Club. Since flotation, the circa £0.5 billion turnover company has unveiled ambitious plans to extend its market share in a fairly fragmented sector. Employing 5,300 people in the UK and Europe, it is en route to becoming the UK's leading 'multimodal' logistics business, combining road, sea, air and rail transport into a single offer for its thousands of customers.
The challenge facing Julie was to capitalise on the existing strength of the Eddie Stobart brand, but also help the entrepreneurial executive team to get the multi-modal message across to stakeholders.
"Although we were working with a historic superbrand, in effect I joined a totally new business just after the flotation," she says. "My experience of working for FTSE 100 business United Utilities was tremendously useful in terms of implementing investor and stakeholder relations programmes, as well as developing existing employee communication channels.
"The Stobart Group executive team have a real passion for the business, and this comes across in their enthusiasm and the way they tell the story of our business. Their approach is a great asset for me as a communications professional, in terms of getting them out there talking to analysts, retail and institutional investors and of course the media.
"It has been a fairly demanding and sometimes frustrating process, given the volatile economic climate. For example, our preliminary results for the period to 31 August 2008 came out at the time of the fuel crisis. Strong commercial performance, a series of successful acquisitions and ambitious plans for future growth and diversification were all overshadowed by concerns about escalating fuel prices.
"We had to work very hard to demonstrate to the City that our unique costing model and careful risk management would protect the business from the worst impact of the price rises. I think the lesson we all learned was that it will take investors time to understand our positive messages, and to reflect them in the share price."
Julie emphasises the value of face to face presentations to analysts and investors. She has developed a portfolio of presentation material and detailed sector research for the executive team. Comparing the business with other players in the sector has helped to illustrate the strengths of Stobart Group, and to highlight the opportunities for further acquisitions.
"I've learned a huge amount about the business in a very short time, particularly form our finance director who's a fantastic guy to work with. His attitude is typical of the whole senior team - he's really receptive to advice, appreciates the importance of communication and gives me the facts and figures I need to get our message across."
As well as gaining positive coverage in the national press, recognition of Stobart Group as a driving force in the commercial transport industry has also come from government. Chief executive Andrew Tinkler was invited to 10 Downing Street to meet senior policy advisers and discuss ways to encourage a sustainable transport industry.
Keeping staff informed, as well as shareholders, is also a key part of Julie's role. With a high level of acquisition activity going on, it is essential to let both existing and new members of staff know what is going on. "There's a real family feel to the Group, and it's important that new colleagues feel welcome and part of this culture. At the same time, our overall company culture is developing as we move into new sectors, and our current employees need to understand more about our new services and future plans to help them serve customers more effectively.
"In my experience, it is important to be honest with staff, particularly in a takeover situation where there may be concerns about jobs and future prospects. We also need to tell potential recruits about changing opportunities - the Group is looking to employ civil engineers, HR specialists and accountancy experts as well as drivers and freight handlers."
After an exhausting but exhilarating year, Julie anticipates an equally busy 2009. "We've now got the opportunity to stand back and start to put some strategic communication plans in place. The executive team will be evaluating progress with integrating the acquisitions, and exploring areas such as employee performance development across the Group. With a 30 per cent stake in the business, the management team are absolutely committed to doing the best for our customers, staff and shareholders, and the communications team is geared up to help them achieve their ambitious plans."
Winter 2008
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